DAX always offers some nice zones around numbers. See the marked zones.
At the moment with all the fear about Brexit and more and more countrys leaving the EU its a mindgame
for all people investing. Very fragile structure at the moment.
Brexit gave a huge down gap which was bought immediately.
Were making lower Highs... and lower Lows.
Fib Extension ...
i didn post too many Trades Ideas lately.
Check the Chart for more details.
- GU had some nice Short Trades in the past, all of them were taken according to a Daily Doji at Trendline Or Price Spikes at News Realeses at the Trendlines ( Remember we want to trade Extreme Prices )
- 55 MA Cloud (3 MA ) is still moving inside the 255 MA Cloud = Neutral
Long time no seen ;)
We Got a Near Trend with Lower Lows(LL) and Lower Highs (LH)
+ 61,8 Fib Retracement
+ 55 MA Cloud of 4H Timeframe and 233 MA of 1H Timeframe
+ Structure looking left (red Boxes)
Nice risk to reward possible, depening of your size.
1-2% Risk of Capital is what i use.
Remember this is just my opinion, trade safe and think for ...
Still in a nice Uptrend. Trendline+ Higher Highs and Higher Lows.
- Waiting for the Retracement to 61.8% or 76.4%
- Trendline approaching aswell
- allready banked 395 pips on the last 2 Trades long.
Aiming for 1.618 Extension Cluster Level "Target" Area
This could come align with the upper Trendline.
Have fun :)
Always remember you trade on your ...
what we do see is a clear Uptrend which could come to a point where it needs a retracement.
- Pinbar at within Weekly Resistance Highs indicating Selling Pressure ( BUT Check the Bar before the pinbar )
FOR TREND FOLLOWING:
Wait for price to retrace at 38.2 and/or 61.8 Fibonacci Retracement levels (Green Zones) which come along with Structure.
We did go long at 120.50 which turned out to be the perfect Long Entry.
Friday right before Market closed we did close the Long Trades.
Now we are looking at possible Short Entry at the Trendline.
We do have Lower Highs... again and again...
We are currently having a price at 76,40 % Retracement.
My Chart shows a Trade Chance with 1,5 Risk to ...
Currently playing one of my Channel Setups.
- Identify Channel
-> Higher Lows and Higher Highs for Bull Channel
-> Lower Lows and Lower Highs for bear Channel
- Draw Structure ( Resist becomes Support and vice versa )
- Wait for 0.618 Retracement and aim for 1.618 Extension
- Stops like in the Example under last Low
NZD/CAD is respecting Strucutre looking left
+ we got a nice deep Fib level here
+ Doji Bar the day before
+ PinBar Today!
Looking for at least 38.2 retracement and then 50% Retracement even though this could mean way more potential
You COULD devided your trade into 3 parts and go for the 61.8 because there is nice Structure aswell